Apple Pay

Apple has been steadily adding more banks to its list of those officially supported for Apple Pay, and today it adds yet another 50+ for users of the iPhone, iPad, and Apple Watch-based payment service. The new additions include a mix of banks and credit unions across the US, but don’t bring any newly supported institutions to users internationally. Head below for the full list of new banks and credit unions. 
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Late last year Square released its updated Square Reader for accepting contactless and chip payment methods on iPhones and iPads, which means small businesses and pop up shops can take Apple Pay payments from iPhones and Apple Watches without expensive terminal systems. The new Square Reader goes for $49 with transaction fees set at 2.75% so you keep $97.25 out of every $100 sent through Square. Square’s app lets you create mobilized businesses on iPhones and iPads, and we’ve tested the new Apple Pay-ready reader to see just how easy it all is.

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While the number of U.S. retailers who accept Apple Pay has grown seven-fold between the launch of the service and the end of last year, usage appears to be lagging behind that curve. A survey by Phoenix Marketing found that even in the cases of retailers with the highest levels of Apple Pay usage, only a minority of customers use the payment method there more than once a month.

The survey also noted that 47% of Apple Pay users had experienced a failed transaction at least once, and that a handful of states account for half of all payments made using the service.

As someone who lives in the UK, where contactless payment first launched in 2008, none of this surprises me – and I don’t think it’s anything for Apple to worry about …

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American retail chain Target is said to be developing its own mobile payment service that would compete with Apple Pay, according to the latest Reuters report this morning. Target’s mobile wallet service is described as being in the early stages of development with a possible launch possibly planned for sometime next year. Like other retailer-specific mobile wallets, Target’s mobile wallet would let customers pay for goods through a smartphone app.

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The year is almost up but Apple Pay is still popping up in new places. BJ’s Wholesale Club already accepted Apple Pay in its stores for members, and now BJ’s has become the second retailer to allow their store cards to be added to the Wallet app and be used for Apple Pay. Kohl’s was officially the first retailer to add Apple Pay support to their store cards in October, while JCPenney is said to be testing support ahead of a 2016 rollout. Apple Pay is also going live with cards issued from over 60 more banks and credit unions around the country:

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Since the launch of Apple Pay, retail giant Walmart has refused to accept the mobile payment option, saying instead that it only matters that consumers have a payment option that is widely accepted. Today, however, Walmart has announced its own mobile payment solution called Walmart Pay.

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KGI’s Ming-Chi Kuo, who has a good track record on what if not when, says that Apple’s new 4-inch iPhone will “resemble an upgraded iPhone 5s,” but will get some new internals. Externally, he suggests the main visible difference will be similar curved-edge glass to the iPhone 6/6s.

Beneath the hood, he says the phone – expected to be dubbed the iPhone 6c – will get an A9 processor and NFC chip to support Apple Pay. The camera will, however, be identical to that in the 5s. Kuo’s investment note also supports recent reports that the 6c will get a metal case, stating that it will be available in at least 2-3 colors.

Kuo expects the phone to hit in the first quarter of next year, but does think that it may generate relatively modest sales … 
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Apple is continuing to sign more banks and credit unions up every few weeks to support Apple Pay, and the latest expansion in the United States includes another 40 new partners to back the company’s mobile payment service. Check below to see the latest banks to go live:
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A Chinese report (via GforGames) citing “Foxconn insiders” and other unnamed sources claims that the iPhone 6c, Apple’s rumored 4-inch entry-level phone to replace the 5c, is due to be announced by Apple in January and go on sale in February.

Apple may have used the term “unapologetically plastic” to describe the iPhone 5c, but the latest report about its 6c successor repeats earlier rumors that Apple will be switching to metal this time around.

There have been mixed rumors on the spec of the iPhone 6c … 
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JCPenney is following the lead set by Kohl’s and testing Apple Pay support for its store credit cards, according to a new report.

JCP shoppers in Texas are being added to a pilot program that allows them to set up their store cards on their mobile devices for use in stores. The program seems to be limited to only one store at the moment, with a full rollout planned for spring 2016.

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If you’re wondering why Apple Pay is as yet only available for Amex cards in Australia, it’s not because Apple isn’t working hard enough to introduce it there: it’s because Australian banks are refusing to sign up for it. The opposition Labor Party spokesman on digital innovation is now suggesting that this refusal may constitute anti-competitive behavior, reports the Sydney Morning Herald.

The Reserve Bank has been urged to examine potential anti-competitive behaviour in the emerging card-free payments market amid claims the banks have frozen out newcomer Apple Pay […]

“Australian consumers should not be denied the ability to make payment choices that are openly available to consumers globally,” Ed Husic wrote. “No doubt some will argue this move by the banks is anti-competitive – I am certainly concerned that it denies consumer access to a secure, efficient payment platform.”

As we reported back in August, one big sticking point is fees … 
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Following Monday’s report that Apple is planning to launch Apple Pay in China in February of next year, Bloomberg reports that it has reached a preliminary agreement with UnionPay to use its card-processing terminals. The agreement was an essential step along the way as UnionPay has a monopoly on card-processing in China.

The agreement is provisional, as it still requires the individual banks to agree. They have reportedly been reluctant to agree to the 0.15% cut Apple takes of each transaction. Given the transaction volumes involved, that soon adds up to a significant chunk of the tiny percentage banks charge retailers.

That isn’t the only hurdle Apple needs to overcome … 
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Back in September, Apple created a company in the Shanghai free-trade zone, hinting at its plans to launch its mobile payment solution Apple Pay in the country. Now, Dow Jones & WSJ report that Apple plans to launch Apple Pay in China by February. Apple has reportedly secured agreements with the four largest banks in China to support the platform.

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Earlier this year around WWDC, Square announced that it would be selling new hardware that will allow small businesses to easily accept Apple Pay later this year. Now Square is setting up 100 small businesses around the US with their new Apple Pay-ready contactless card reader. These allow customers to pay merchants using Apple’s mobile payment service through iPhones and Apple Watches securely and without sharing credit card information.
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Apple seems to be working hard with its card company partners to promote Apple Pay in the UK. Alongside a MasterCard promo offering free travel in London, Visa Europe is today launching a two-month long ad campaign designed to emphasize the speed, ease and reliability of the service.

Featuring a central theme of anticipation, the campaign uses imagery that captures the pause before a primary action – the weightlifter before pressing the lift, the pianist before striking a chord, the chameleon before making a strike – the scenes then snap into the dramatic conclusions as an analogy to how fast, easy and reliable using a Visa card in Apple Pay is in everyday situations such as paying to use the Tube or in a café … 

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Apple today has shared a new Guided Tour video to its YouTube channel that highlights Apple Pay on the iPhone. Apple has previously shared a Guided Tour showing off Apple on the Apple Watch, but this is the first video in which Apple has demonstrated the feature on its smartphone.

In the video, Apple highlights the ease of use that Apple Pay provides. The company demonstrates how you can use it at compatible checkout terminals in retail locations, as well as use it in apps for buying goods and apps like Uber for buying services.

Apple closes the video by demonstrating how easy it is to setup Apple Pay, including adding the card, verifying the card, and finally actually using it in stores.

You can view Apple’s new Guided Tour video for Apple Pay on iPhone below. Apple has previously shared a plethora of Guided Tour videos for Apple Watch. The company likes to use the format to showcase features that take some explanation to truly understand.

https://www.youtube.com/watch?v=ez-2M3C_4wU

News concerning the expansion of Apple Pay has been coming at a rapid pace today. This morning, the service launched in Canada and expanded to Tesco Bank and TSB in the U.K. Then, Apple revealed that more than 100 new banks and credit unions in the United States now support its mobile payment solution. Now, Apple has announced that the service will soon be supported at Dominos and Cinnabon, two popular food chains in the United States.

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In addition to a going live in Canada and adding two more banks in the UK, Apple Pay has seen a giant expansion of new bank partners in the United States today as well. If you’re still waiting for your bank to work with Apple Pay so you can use the mobile payment service, check the list below to see the latest:
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As expected, Apple Pay is now available in Canada. You can use use eligible American Express bank cards to make mobile payments at a whole host of retailers that support the NFC technology across Canada. Apple Pay retailer mobile payments works with iPhone 6, iPhone 6 Plus, iPhone 6S and iPhone 6S Plus. Some had suggested that Apple may need to push out an iOS software update but iOS 9.2 remains in beta — this all works from within the Wallet setup on iOS 9.1.

For the UK, Apple has also brought Tesco Bank and TSB onboard … expanding Apple Pay to even more people in the country.

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